Buffett Says Tim Cook Made Berkshire More Money Than He Ever Did

Berkshire Hathaway CEO Warren Buffett offered uncommon nationalist praise for Apple CEO Tim Cook astatine the holding company's yearly shareholder gathering connected Saturday, during which Buffett confirmed helium was stepping down.


"I'm somewhat embarrassed to accidental that Tim Cook has made Berkshire a batch much wealth than I've ever made," Buffett told the audience, alluding to the 680% surge successful Apple's banal since Berkshire archetypal began acquiring shares successful aboriginal 2016.

Buffett besides reflected connected the precocious Steve Jobs and credited him for gathering Apple, but helium was speedy to underline Cook's contributions to the company's success. "Nobody but Steve could person created Apple, but cipher but Tim could person developed it arsenic helium has," helium said.

The 94-year-old investor, who announced his volition to measurement down arsenic CEO by year's end, made billions investing successful Apple contempt his long-standing wariness of tech investments. At 1 constituent successful 2024, Buffett was adjacent Apple's largest capitalist extracurricular of Exchange-Traded Funds (ETFs).

In 2024, Berkshire's involvement successful Apple was valued astatine $174 billion, which the institution had acquired for $40 cardinal implicit respective years. That said, the conglomerate has been shedding its holdings successful the institution passim the past year, and it has present sold astir 70% of the 905 cardinal shares it held astatine its peak.

Since Cook took implicit arsenic CEO successful 2011, Apple's banal has seen singular growth, climbing from nether $15 connected a split-adjusted ground to $205. The astir 14-fold summation has propelled Apple's marketplace capitalisation to implicit $3 trillion.

Buffett, known arsenic the Oracle of Omaha and arguably the world's astir palmy investor, told his company's yearly gathering helium would manus implicit the reins to vice-chairman Greg Abel.


"There's ne'er been idiosyncratic similar Warren, and countless people, myself included, person been inspired by his wisdom," Cook wrote connected X (Twitter) aft attending the shareholder meeting. "It's been 1 of the large privileges of my beingness to cognize him. And there's nary question that Warren is leaving Berkshire successful large hands with Greg."
This article, "Buffett Says Tim Cook Made Berkshire More Money Than He Ever Did" archetypal appeared connected MacRumors.com

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